Indian Authorities Bust Multi-State Crypto Scam Running for 10 Years
India’s Enforcement Directorate (ED) has carried out coordinated raids at 21 locations across Karnataka, Maharashtra, and Delhi as part of a widening probe into a large-scale crypto scam that allegedly operated for nearly a decade.
The searches were conducted on December 18 under the Prevention of Money Laundering Act (PMLA). It targeted residential and office premises linked to 4th Bloc Consultants and its associates.
India’s Largest Crypto Bust Yet?Authorities say the group ran fake crypto investment platforms that duped both Indian and foreign investors by promising unusually high returns.
According to the ED, the case originated from a police FIR and intelligence inputs from the Karnataka State Police.
Investigators allege the accused created professional-looking websites that closely mimicked legitimate global crypto trading platforms, complete with dashboards, account balances, and transaction histories.
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